Budgeting & Debt
Learn how to manage your budget and reduce debt with practical guides on spending, saving, credit, and repayment strategies. Take control of your money and your life with confidence.
Joint account tax implications in Canada: Who pays what to the CRA?
Interest, dividends, and capital gains earned in a joint account are all taxable, but they aren’t necessarily split 50/50. Here’s what the CRA actually expects you to report.
The Pros & Cons Of Declaring Bankruptcy in Canada
“I think filing for bankruptcy can prevent heart attacks, suicide, divorce, and job loss because people can now focus on life, as opposed to fighting with creditors they cannot afford to pay,” argues Jeremy Kroll, Licensed Insolvency Trustee and Partner at Baigel Corp.
Consumer proposal vs. bankruptcy: How to pick the best option for you
A consumer proposal tends to serve you better if you have a steady income and assets you want to protect.
The truth about government debt relief programs in Canada
Two formal debt relief mechanisms fall under the Bankruptcy and Insolvency Act: the consumer proposal and the bankruptcy.
When do debt collectors take you to court in Canada?
If a collector contacts you about a debt that is past the limitation period, avoid engaging with them, since they lost the legal right to enforce repayment through the courts.
What can a debt collection agency do in each province?
They cannot use threatening, profane, or intimidating language, and they cannot misrepresent the situation or fabricate legal references to scare you into paying.
5 Surprising Things That Happen (And Don't Happen) When You Declare Bankruptcy
Most Canadians who file for bankruptcy don't lose everything they own. Yet, this myth, along with many others, persist because bankruptcy carries a stigma that discourages people from learning how the process actually works.